The FTC reported that companies hired to manage price-setting algorithms work across hundreds of brands, from grocery stores to clothing retailers.
Breakdown
- Companies use personal data to set individualized prices for customers.
- Algorithms analyze demographics and online behavior to predict willingness to pay. 41s
- A Federal Trade Commission study found retailers track consumer behavior to adjust prices. 58s
- Data privacy advocates warn consumers have little control over how their data is used. 1m 28s
- Experts say AI-driven personalized pricing is spreading across industries and raises new concerns. 2m 29s